An Exeter-based electric car and electric bicycle rental service has ceased trading.

Co Cars and Co Bikes, which had an e-bike rental station in Exmouth, said it had become "increasingly difficult" to generate enough income, citing the Covid-19 pandemic, changes in travel habits, and rising fuel and energy prices.

Vandalism and supply chain issues had also "made it impossible" to keep enough of its bikes on the road to make the business viable, the provider added.

Managing Director of Co Cars Ltd Nic Eversett said: "We are devastated that Co Cars Ltd won't continue but we are proud to have helped reduce pollution and congestion on our streets whilst also increasing active travel.

"During the last few months, the board and management team have focused on seeking additional funding to allow us to make the necessary changes to our business model to safeguard its viability.

"Unfortunately, we have been unable to attract the level of funding needed."

Buyers are now being sought for all or part of the business.